Question 1

A study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed. Which segmentation base did these organizations use the most?

Accepted Answer

A)   behavioral
B)   psychographic
C)   geographic
D)   demographic
E)   productF) A) and E)
G) B) and E)

Question 2

Which of the following statements about market segmentation for organizational markets is most accurate?

Accepted Answer

A)   Criteria for segmenting markets are the same whether the market is composed of consumers or organizations.
B)   Both consumer markets and organizational markets use demographic, geographic, and behavioral bases to segment markets.
C)   Psychographic criteria are just as important in segmenting organizational markets as they are in segmenting consumer markets.
D)   Consumer markets use market segmentation criteria while organizational markets do not.
E)   The greatest difference in market segmentation strategies between consumer and organizational markets is the number of employees employed in the segmentation process.F) B) and E)
G) B) and D) B

Question 3

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

Accepted Answer

A)   group potential buyers into segments.
B)   develop a market-product grid and estimate size of the overall market.
C)   select target markets.
D)   group products to be sold into categories.
E)   take marketing actions to reach target markets.F) A) and B)
G) A) and C) A

Question 4

When compared to a multiple products, multiple market segments strategy, a one product, multiple market segment strategy

Accepted Answer

A)   is a much more effective means of meeting consumers' individual needs.
B)   creates greater savings in production costs.
C)   is a more effective way of meeting organizational objectives.
D)   has significantly higher distribution costs.
E)   is more profitable since a firm can charge the new segments higher prices without changing the product.F) C) and D)
G) D) and E)

Question 5

Tony Hsieh's most important contribution at Zappos was to

Accepted Answer

A)   immediately change its product mix.
B)   develop its segmentation strategy.
C)   focus on value-oriented customers.
D)   focus on unknown brands.
E)   shift to a more transactional focus.F) D) and E)
G) None of the above

Question 6

Procter & Gamble (P&G)  decided to skip a generation of consumers when it began to market Old Spice deodorant. The target market consists of men aged 18 to 34 years old (Generation Y)  who don't remember the Old Spice brand sold to their grandfathers many years ago. P&G is using which type of segmentation variable?

Accepted Answer

A)   behavioral
B)   demographic
C)   lifestyle
D)   geographic
E)   psychographicF) B) and E)
G) A) and C)

Question 7

Segmentation based on some observable actions or attitudes by prospective customers, such as what benefits they seek, as well as where, how frequently, and why they buy, is referred to as

Accepted Answer

A)   demographic segmentation.
B)   psychographic segmentation.
C)   geographic segmentation.
D)   behavioral segmentation.
E)   socioeconomic segmentation.F) B) and D)
G) A) and E)

Question 8

A market-product grid is a framework to relate the ________ to products offered or potential marketing actions by an organization.

Accepted Answer

A)   market segments of potential buyers
B)   marketing objectives of potential products
C)   total anticipated revenue annually
D)   total anticipated profit annually
E)   market share of the closest competitorF) B) and E)
G) A) and E)

Question 9

A relatively homogeneous group of prospective buyers that results from the market segmentation process is referred to as

Accepted Answer

A)   a market segment.
B)   a target market.
C)   a customer base.
D)   an ultimate consumer.
E)   a preferred customer.F) B) and E)
G) C) and D)

Question 10

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Accepted Answer

A)   demographic segmentation
B)   psychographic segmentation
C)   behavioral segmentation
D)   geographic segmentation
E)   socioeconomic segmentationF) A) and B)
G) A) and C)

Question 11

During its market segmentation process for the Nike LeBron X basketball shoe, which sells for more than $200 a pair, Nike decided to concentrate on affluent teens rather than members of high school basketball teams. This is an example of

Accepted Answer

A)   selecting target market segments to reach.
B)   forming products to be sold into groups.
C)   developing a market-product grid and estimating size of markets.
D)   taking marketing actions to reach target markets.
E)   forming prospective buyers into segments.F) A) and B)
G) B) and E)

Question 12

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a

Accepted Answer

A)   needs table.
B)   cross-tabulation.
C)   market-product grid.
D)   growth-share matrix.
E)   product differentiation table.F) A) and B)
G) A) and E)

Question 13

The annual Street & Smith's Baseball magazine had exactly the same stories but with 15 different covers to appeal to baseball fans in 15 of the U.S. regions. What is the basis of its market segmentation strategy?

Accepted Answer

A)   psychographic segmentation
B)   retail outlet segmentation
C)   demographic segmentation
D)   behavioral segmentation
E)   geographic segmentationF) B) and C)
G) All of the above

Question 14

Explain the difference between marketing synergies and product synergies.

Accepted Answer

Synergy analysis seeks opportunities by finding the optimum balance between marketing efficiencies versus product efficiencies and is vital to a marketer's success in selecting target market segments and making marketing program action decisions. Marketing synergies run horizontally across the rows in a market-product grid and represent an opportunity for efficiency in terms of a market segment. Marketing efforts can be streamlined with a focus on fewer segments. Product synergies run vertically down the columns in a market-product grid and each column represents an opportunity for efficiency in research and development and production. To simplify product lines and reduce R&D and production expenses, a firm might only wish to manufacture one or a few products and could determine which to make based on the number of segments with an interest in that product. See the Apple Segmentation Strategy in the Marketing Matters box.

Question 15

The primary focus of Zappos' initial market segmentation strategy was to sell

Accepted Answer

A)   shoes and other products to people who will buy them online and like to use mobile technology.
B)   a wide selection of leather shoes and boots to high-end retailers.
C)   all types of shoes, accessories, and clothing to department and fashion discount stores for reasonable prices.
D)   Spanish novelties and accessories to organizations that typically resell them.
E)   shoes in its own retail stores to those who prefer face-to-face interaction.F) A) and E)
G) D) and E)

Question 16

"For World Wide Web users who enjoy books, Amazon.com is a retail bookseller that provides instant access to over 1.1 million books as well as a combination of extraordinary convenience and low prices" is a ________ statement for Amazon.com in North America.

Accepted Answer

A)   perception
B)   positioning
C)   market-product
D)   vision
E)   differentiationF) B) and E)
G) A) and B)

Question 17

Which of the following statements regarding when and how to segment markets is most accurate?

Accepted Answer

A)   Even if a firm finds uniform needs across all users, it should take advantage of the method to avoid falling behind its competitors.
B)   Market segmentation is only feasible for large corporations; small businesses don't have the resources to engage in the process.
C)   Governments should not attempt market segmentation because the strategy is only applicable for consumer and organizational markets.
D)   If a business firm goes to the trouble and expense of segmenting its markets, it expects to increase its sales, profits, and return on investment.
E)   Market segmentation strategies work less than 10 percent of the time.F) B) and C)
G) A) and E)

Question 18

To effectively position a product or brand, companies take four steps, including which of these?

Accepted Answer

A)   decide whether to keep or delete the market segment that your product offering targets
B)   identify the key differentiators for competitors' brands
C)   discover how target customers rate a company's product or brand on important attributes
D)   create a marketing plan based on customers' perceptions
E)   identify market niches that were not selected during the market segmentation processF) A) and E)
G) D) and E)

Question 19

The ultimate criterion for an organization's marketing success is that ________ as a result of increased synergies.

Accepted Answer

A)   costs decrease
B)   market share increases
C)   product deficiencies decrease
D)   customers should be better off
E)   new products flourishF) C) and D)
G) A) and E)

Question 20

Figure 8-8
-The perceptual map in Figure 8-8 shows adult perceptions for beverages. Suppose a marketer is introducing a new beverage that is higher-than-average in nutrition and is intended for adults. It will probably be most useful to promote the drink as similar to what?

Accepted Answer

A)   tea
B)   fruit-flavored drinks
C)   sugared soft drinks
D)   regular milk
E)   coffeeF) A) and C)
G) B) and E)

Exam 8: Market Segmentation, Targeting, and Positioning

A study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed. Which segmentation base did these organizations use the most?

Correct Answer
verified

Which of the following statements about market segmentation for organizational markets is most accurate?

Correct Answer
verified
B

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

Correct Answer
verified
A

When compared to a multiple products, multiple market segments strategy, a one product, multiple market segment strategy

Correct Answer
verified

Tony Hsieh's most important contribution at Zappos was to

Correct Answer
verified

Correct Answer
verified

Segmentation based on some observable actions or attitudes by prospective customers, such as what benefits they seek, as well as where, how frequently, and why they buy, is referred to as

Correct Answer
verified

A market-product grid is a framework to relate the ________ to products offered or potential marketing actions by an organization.

Correct Answer
verified

A relatively homogeneous group of prospective buyers that results from the market segmentation process is referred to as

Correct Answer
verified

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Correct Answer
verified

During its market segmentation process for the Nike LeBron X basketball shoe, which sells for more than $200 a pair, Nike decided to concentrate on affluent teens rather than members of high school basketball teams. This is an example of

Correct Answer
verified

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a

Correct Answer
verified

The annual Street & Smith's Baseball magazine had exactly the same stories but with 15 different covers to appeal to baseball fans in 15 of the U.S. regions. What is the basis of its market segmentation strategy?

Correct Answer
verified

Explain the difference between marketing synergies and product synergies.

The primary focus of Zappos' initial market segmentation strategy was to sell

Correct Answer
verified

"For World Wide Web users who enjoy books, Amazon.com is a retail bookseller that provides instant access to over 1.1 million books as well as a combination of extraordinary convenience and low prices" is a ________ statement for Amazon.com in North America.

Correct Answer
verified

Which of the following statements regarding when and how to segment markets is most accurate?

Correct Answer
verified

To effectively position a product or brand, companies take four steps, including which of these?

Correct Answer
verified

The ultimate criterion for an organization's marketing success is that ________ as a result of increased synergies.

Correct Answer
verified

Figure 8-8 -The perceptual map in Figure 8-8 shows adult perceptions for beverages. Suppose a marketer is introducing a new beverage that is higher-than-average in nutrition and is intended for adults. It will probably be most useful to promote the drink as similar to what?

Correct Answer
verified

Exam 8: Market Segmentation, Targeting, and Positioning

A study by the Aberdeen Group analyzed which segmentation bases were used by the 20 percent most profitable organizations of the 220 surveyed. Which segmentation base did these organizations use the most?

Correct AnswerverifiedShow Answer

Which of the following statements about market segmentation for organizational markets is most accurate?

Correct AnswerverifiedB

The first step in segmenting and targeting markets that links customer needs to marketing actions is to

Correct AnswerverifiedA

When compared to a multiple products, multiple market segments strategy, a one product, multiple market segment strategy

Correct AnswerverifiedShow Answer

Tony Hsieh's most important contribution at Zappos was to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Segmentation based on some observable actions or attitudes by prospective customers, such as what benefits they seek, as well as where, how frequently, and why they buy, is referred to as

Correct AnswerverifiedShow Answer

A market-product grid is a framework to relate the ________ to products offered or potential marketing actions by an organization.

Correct AnswerverifiedShow Answer

A relatively homogeneous group of prospective buyers that results from the market segmentation process is referred to as

Correct AnswerverifiedShow Answer

Samsung sells a variety of TVs, from simple and small ones to large smart TVs with Internet connectivity and 3-D technology. Customers prefer different features, so Samsung uses which type of segmentation variable based on their viewing preferences?

Correct AnswerverifiedShow Answer

During its market segmentation process for the Nike LeBron X basketball shoe, which sells for more than $200 a pair, Nike decided to concentrate on affluent teens rather than members of high school basketball teams. This is an example of

Correct AnswerverifiedShow Answer

A framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization is referred to as a

Correct AnswerverifiedShow Answer

The annual Street & Smith's Baseball magazine had exactly the same stories but with 15 different covers to appeal to baseball fans in 15 of the U.S. regions. What is the basis of its market segmentation strategy?

Correct AnswerverifiedShow Answer

Explain the difference between marketing synergies and product synergies.

The primary focus of Zappos' initial market segmentation strategy was to sell

Correct AnswerverifiedShow Answer

"For World Wide Web users who enjoy books, Amazon.com is a retail bookseller that provides instant access to over 1.1 million books as well as a combination of extraordinary convenience and low prices" is a ________ statement for Amazon.com in North America.

Correct AnswerverifiedShow Answer

Which of the following statements regarding when and how to segment markets is most accurate?

Correct AnswerverifiedShow Answer

To effectively position a product or brand, companies take four steps, including which of these?

Correct AnswerverifiedShow Answer

The ultimate criterion for an organization's marketing success is that ________ as a result of increased synergies.

Correct AnswerverifiedShow Answer

Figure 8-8 -The perceptual map in Figure 8-8 shows adult perceptions for beverages. Suppose a marketer is introducing a new beverage that is higher-than-average in nutrition and is intended for adults. It will probably be most useful to promote the drink as similar to what?

Correct AnswerverifiedShow Answer

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B

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A

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